Robinhood Markets (NASDAQ:HOOD) Insider Steven Quirk Sells 24,416 Shares of Stock

Robinhood Markets, Inc. (NASDAQ:HOOD) insider Steven Quirk sold 24,416 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $120.33, for a total transaction of $2,937,977.28. Following the sale, the insider owned 77,839 shares of the company’s stock, valued at $9,366,366.87. This represents a 23.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $122.11 on Friday. The firm has a market cap of $109.79 billion, a PE ratio of 53.79, a price-to-earnings-growth ratio of 2.56 and a beta of 2.34. Robinhood Markets, Inc. has a 12-month low of $63.51 and a 12-month high of $153.86. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The company’s fifty day simple moving average is $102.73 and its two-hundred day simple moving average is $88.26.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.44 by $0.18. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. Robinhood Markets had a net margin of 42.01% and a return on equity of 22.43%. The company’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, equities analysts expect that Robinhood Markets, Inc. will post 2.08 EPS for the current year.

Robinhood Markets News Roundup

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Analyst sentiment remains supportive. Scotiabank initiated coverage with a bullish view, while Piper Sandler raised its price target to $145 and expects football-related event contracts to increase activity. Robinhood generated $156 million from event contracts in the second quarter. Robinhood Stock Jumps After Wave of Analysts Upgrade
• Positive Sentiment: Robinhood Chain and crypto activity are emerging growth drivers. The new blockchain reportedly generated about $3.8 million in fees on September 1, while the company now has 13 business lines with more than $100 million in annualized revenue. Deutsche Bank also sees potential upside from Robinhood’s latest crypto initiatives. Robinhood Now Runs 13 Revenue Lines Above $100 Million a Year
• Positive Sentiment: CEO Vlad Tenev said Robinhood’s newly launched Trust Accounts have attracted more than $150 million since August, suggesting early customer demand for the offering. Robinhood Trust Accounts Now Have Over $150 Million

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust increased its stake in shares of Robinhood Markets by 11.9% in the second quarter. Parkside Financial Bank & Trust now owns 1,089 shares of the company’s stock worth $109,000 after purchasing an additional 116 shares in the last quarter. Sivia Capital Partners LLC increased its stake in Robinhood Markets by 2.8% in the 4th quarter. Sivia Capital Partners LLC now owns 4,310 shares of the company’s stock worth $487,000 after acquiring an additional 117 shares during the last quarter. Constant Guidance Financial LLC increased its position in Robinhood Markets by 5.3% in the fourth quarter. Constant Guidance Financial LLC now owns 2,571 shares of the company’s stock worth $291,000 after purchasing an additional 129 shares during the last quarter. MCF Advisors LLC increased its holdings in shares of Robinhood Markets by 52.6% in the 4th quarter. MCF Advisors LLC now owns 377 shares of the company’s stock worth $43,000 after buying an additional 130 shares during the last quarter. Finally, Integrated Advisors Network LLC raised its position in shares of Robinhood Markets by 5.7% during the 4th quarter. Integrated Advisors Network LLC now owns 2,494 shares of the company’s stock valued at $282,000 after buying an additional 135 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HOOD has been the subject of a number of analyst reports. Sanford C. Bernstein raised their price objective on Robinhood Markets from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. Argus boosted their target price on Robinhood Markets from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Cantor Fitzgerald dropped their price target on shares of Robinhood Markets from $130.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. KeyCorp lifted their price target on shares of Robinhood Markets from $100.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Finally, Citizens Jmp reissued a “market outperform” rating and set a $155.00 price objective on shares of Robinhood Markets in a report on Thursday, July 30th. Twenty-three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.67.

Robinhood Markets Company Profile

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.